Bleichroeder LP

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Bleichroeder LP reported 66 stock positions worth $510.9 million. Its top holding was SPDR Gold Shares (GLD) at 33.0% of the portfolio, followed by Gpgi (GPGI, 16.0%) and Linde (LIN, 7.6%). Compared with Q2 2025, it opened 6 new positions, sold out of 10, added to 9 and reduced 1. The biggest buy was a new position in Fluent (FLNT) and the biggest sale Linde (LIN, shares −2%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001781002
Portfolio Value
$510.9M (Q3 2025)
SEC Filing
0001420506-25-003432 ↗ filed Nov 14, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $400.5M Q1 2024 Q2 2024: $335.9M Q2 2024 Q3 2024: $370.9M Q3 2024 Q4 2024: $396.9M Q4 2024 Q1 2025: $374.3M Q1 2025 Q2 2025: $405.0M Q2 2025 Q3 2025: $510.9M $510.9M Q3 2025 Q4 2025: $567.6M Q4 2025 Q1 2026: $578.0M Q1 2026 Q2 2026: $556.8M Q2 2026

Holdings 66 stocks · $510.9M
GLD SPDR Gold Shares 33.05% 475,000 $168.8M No change
GPGI Gpgi Inc. filed as COMPOSECURE INC 15.97% 3,919,466 $81.6M No change
LIN Linde PLC 7.63% 82,114 $39.0M Reduce -2.5%
MDXH Mdxhealth 6.71% 7,378,333 $34.3M No change
RHLD Resolute Holdings Manag 4.54% 321,413 $23.2M No change
SPY SS SPDR S&P 500 ETF Trust-US 4.25% 32,570 $21.7M Add +6.2%
BX Blackstone Inc. 3.03% 90,750 $15.5M No change
DUOT Duos Technologies Group Inc. 2.34% 1,627,806 $12.0M No change
IDN Intellicheck Inc. 2.11% 2,073,583 $10.8M No change
INVE Inve Technologies Inc. filed as IDENTIV INC 1.95% 2,884,495 $10.0M No change
SPGI S&P Global Inc. 1.91% 20,000 $9.7M No change
LIQT Liqtech International Inc. 1.64% 3,182,239 $8.4M No change
DTIL Precision Biosciences Inc. 1.16% 1,075,000 $5.9M No change
CUE Cue Biopharma Inc. 0.96% 6,819,164 $4.9M No change
PROK Prokidney Corp. 0.95% 2,000,000 $4.8M No change
BRFH Barfresh Food Group Inc. 0.95% 1,390,758 $4.8M No change
JPM JPMorgan Chase & Co. 0.93% 15,000 $4.7M No change
EYPT Eyepoint Inc. 0.71% 256,515 $3.7M No change
WELL Welltower Inc. 0.70% 20,000 $3.6M No change
NEUROONE MED TECHNOLOGIES CO 0.70% 4,000,000 $3.6M No change
FLNT Fluent Inc. 0.62% 1,428,571 $3.2M New
GNLX Genelux Corp. 0.59% 714,000 $3.0M No change
QQQ Invesco QQQ Trust Series 1 0.55% 4,640 $2.8M Add +93.3%
TV Grupo Televisa SA-Spon ADR 0.54% 1,030,000 $2.8M No change
DMAC Diamedica Therapeutics Inc. 0.51% 382,317 $2.6M No change
VENU Venu Holding Corp. filed as VENU HLDG CORP 0.50% 200,000 $2.6M New
OWLT Owlet Inc. 0.45% 270,000 $2.3M No change
CRIS Curis Inc. 0.37% 1,135,662 $1.9M Add +9.7%
IMMX Immix Biopharma Inc. 0.35% 850,000 $1.8M No change
MODULAR MED INC 0.28% 2,014,581 $1.4M Add +14.8%
LLYVK Liberty Media Corp.-Liberty-C 0.26% 13,802 $1.3M No change
IRD Opus Genetics Inc. 0.24% 736,842 $1.2M No change
RTX RTX Corp. 0.20% 6,000 $1.0M No change
FEAM 5E Advanced Materials Inc. 0.20% 285,714 $997K New
POCI Precision Optics Corp. Inc. 0.19% 220,230 $958K No change
PROF Profound Medical Corp. 0.18% 183,333 $896K No change
TLPH Talphera Inc. 0.15% 881,166 $787K Add +106.5%
EVOK Evoke Pharma Inc. 0.14% 146,395 $728K Add +112.9%
RNXT Renovorx Inc. 0.13% 538,621 $684K Add +7.7%
IPWR Ideal Power Inc. 0.13% 133,000 $668K No change
ICCC Immucell Corp. 0.12% 101,594 $635K No change
LLYVA Liberty Media Corp.-Liberty-A 0.11% 6,047 $570K No change
CLRB Cellectar Biosciences Inc. 0.11% 100,000 $560K New
GPCR Structure Therapeutics Inc. 0.11% 20,000 $560K Add +100.0%
AZ A2Z CUST2MATE Solutions Corp. 0.10% 62,000 $495K New
LHX L3HARRIS Technologies Inc. 0.10% 1,600 $489K No change
MULTISENSOR AI HOLDINGS INC 0.09% 700,000 $452K No change
PHYS Sprott Physical Gold Trust 0.07% 12,540 $371K No change
CARR Carrier Global Corp. 0.07% 6,000 $358K No change
PYPL PayPal Holdings Inc. 0.07% 5,300 $355K No change
OTIS Otis Worldwide Corp. 0.05% 3,000 $274K No change
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.04% 2,000 $218K No change
XAIR Beyond Air Inc. 0.04% 86,489 $200K Add +134.3%
CDNS Cadence Design SYS Inc. 0.04% 525 $184K No change
XOM Exxon Mobil Corp. 0.02% 1,075 $121K No change
SIRI Sirius XM Holdings Inc. 0.02% 5,061 $118K No change
LION Lionsgate Studios Corp. 0.02% 16,413 $113K New
SMTK Smartkem Inc. 0.02% 65,000 $109K No change
ARKF ARK Blockchain & Fintech Inn 0.01% 1,200 $68K No change
ARKW ARK Next Generation Technolo 0.01% 300 $52K No change
WGS Genedx Holdings Corp. 0.01% 304 $33K No change
RVMD Revolution Medicines Inc. 0.01% 556 $26K No change
ARKG ARK Genomic Revolution ETF 0.00% 825 $23K No change
STRZ Starz Entertainment Corp. 0.00% 1,092 $16K No change
XFOR X4 Pharmaceuticals Inc. 0.00% 595 $2K No change
AVNW Aviat Networks Inc. 0.00% 66 $2K No change
Other holdings (6): bonds, preferreds, convertibles and warrants · $2.0M (not counted above)
SecurityClassShares / PrincipalValueChange
CMPOW Composecure Inc. -CW25 *W EXP 12/27/202 100,000$1.3MNo change
OPFI.WS Oppfi Inc. -CW26 *W EXP 07/20/202 250,000$563KNo change
AENTW Adara Acquisition Class A -CW26 *W EXP 02/11/202 200,000$118KNo change
RVMDW Revolution Medicines Inc.-28 *W EXP 12/17/202 200,000$60KNo change
SVREW Saverone 2014 Ltd. -CW27 *W EXP 06/02/202 121,000$3KNo change
ARKOW Arko Corp. -CW25 *W EXP 12/22/202 333,333$3KNo change

Total filed on the 13F, all lines: $513.0M.

Portfolio Sells Q2 2025 → Q3 2025
LIN Linde PLC Reduce -2.5% 7.63% −2.12
ACOG Alpha Cognition Inc. Sold out 0.00% −0.32
MIST Milestone Pharmaceuticals Inc. Sold out 0.00% −0.24
ONDS Ondas Inc. Sold out 0.00% −0.17
SNREY Sunrise Communicat Class A Sold out 0.00% −0.13
MXCT Maxcyte Inc. Sold out 0.00% −0.13
PXLW Pixelworks Inc. Sold out 0.00% −0.10
LBTYK Liberty Global Ltd. Class C Sold out 0.00% −0.09
LBTYA Liberty Global Ltd. Class A Sold out 0.00% −0.03
LILAK Liberty Latin Americ Class C Sold out 0.00% −0.01
LILA Liberty Latin Americ Class A Sold out 0.00% −0.00

Portfolio Buys Q2 2025 → Q3 2025
FLNT Fluent Inc. New 0.62% +0.62
VENU Venu Holding Corp. New 0.50% +0.50
QQQ Invesco QQQ Trust Series 1 Add +93.3% 0.55% +0.22
FEAM 5E Advanced Materials Inc. New 0.20% +0.20
CLRB Cellectar Biosciences Inc. New 0.11% +0.11
TLPH Talphera Inc. Add +106.5% 0.15% +0.11
EVOK Evoke Pharma Inc. Add +112.9% 0.14% +0.10
AZ A2Z CUST2MATE Solutions Corp. New 0.10% +0.10
GPCR Structure Therapeutics Inc. Add +100.0% 0.11% +0.06
LION Lionsgate Studios Corp. New 0.02% +0.02
XAIR Beyond Air Inc. Add +134.3% 0.04% +0.01
RNXT Renovorx Inc. Add +7.7% 0.13% −0.03
MODULAR MED INC Add +14.8% 0.28% −0.05
CRIS Curis Inc. Add +9.7% 0.37% −0.22
SPY SS SPDR S&P 500 ETF Trust-US Add +6.2% 4.25% −0.43

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 73$556.8MGLD, GPGI, SPY, RHLD, LIN
Q1 2026 76$578.0MGLD, GPGI, RHLD, SPY, LIN
Q4 2025 69$567.6MGLD, GPGI, RHLD, LIN, MDXH
Q3 2025 66$510.9MGLD, GPGI, LIN, MDXH, RHLD
Q2 2025 70$405.0MGLD, GPGI, LIN, SPY, MDXH
Q1 2025 72$374.3MGLD, GPGI, LIN, IVAC, SPY
Q4 2024 68$396.9MGLD, GPGI, LIN, SPGI, FNA
Q3 2024 67$370.9MGLD, GPGI, LIN, SPGI, MDXH
Q2 2024 69$335.9MGLD, LIN, GPGI, IVAC, BC
Q1 2024 74$400.5MGLD, LIN, BC, INVE, FNA